Fla. Ponzi Schemer Implicates Many Others In Crime

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January 4, 2012 10:54PM (UTC)

MIAMI (AP) — In two weeks of sworn testimony, convicted Florida Ponzi schemer Scott Rothstein has spelled out how far the tentacles stretched in his $1.2 billion fraud.

Rothstein pointed the finger at numerous lawyers, bankers, business people — including his relatives and some of his best friends — and unnamed law enforcement officials and politicians. Attorneys say Rothstein's deposition in several civil lawsuits could form the outline of another wave of indictments that federal prosecutors have been promising for months.

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The 49-year-old Rothstein says he told the truth in hopes that prosecutors recommend to a judge that his 50-year prison sentence be reduced.

Prosecutors prevented Rothstein from naming names of any political or law enforcement figures during his testimony. So far, seven people besides Rothstein have been charged, with five pleading guilty.